Wenger: We won't spend crazy money

Arsene Wenger today declared people were in “dreamland” if they expected Arsenal to break the bank during the January transfer window, and warned football was not immune to the credit crunch.

The Gunners head into the new year already behind in the Barclays Premier League title race – back in fifth, some 10 points off leaders Liverpool – while also without key men like captain Cesc Fabregas and England winger Theo Walcott because of injury.